Why the action of Tyme Technologies crushes it today
Actions of Tyme technology (NASDAQ: TYME) soared 84.9% more as of 12:09 p.m. EST Wednesday after rising 174% earlier today. The huge gain came after the company announced that the United States Patent and Trademark Office (USPTO) had granted another patent related to a COVID-19 treatment using Tyme’s metabolomics technology platform.
This is not unusual for the clinical stage biotechnology stocks like Tyme to enter orbit after good news. But how good was Tyme’s news? The answer lies in how its metabolomics technology works.
Most immune therapies and vaccines targeting COVID-19 focus on the outer coating of the virus, especially the advanced proteins on the surface of the coronavirus. This is a good approach, but it is possible that genetic mutations in the virus make these therapies and vaccines less effective.
Tyme’s TYME-19 Experimental Therapy is not expected to be affected by genetic mutations in the coronavirus layer. TYME-19 could limit viral replication by inhibiting the ability of the coronavirus to produce viral proteins and fatty acids.
Obtaining the US patent for this approach is not a big deal if TYME-19 proves ineffective in preventing COVID-19. However, if Tyme’s pipeline candidate is successful, the patent could protect biotechnology’s intellectual property rights and earn it a lot of money in the future.
Tyme plans to take TYME-19 to clinical testing soon and release the results later this year. It also continues to enroll participants in a pivotal study of SM-88 as a potential third-line treatment for pancreatic cancer. Another potential catalyst may be on the way this year in the form of expected results from a phase 2 study conducted by the Joseph Ahmed Foundation evaluating SM-88 as maintenance monotherapy in Ewing’s sarcoma (a rare type of bone cancer) previously treated and as a lifesaving monotherapy in clinically advanced sarcomas.
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